|
. ,
<br /> � � 9g�.a�sls�
<br /> (b) Proceed to foreclose this Deed by judicial
<br /> proceedings or may, at the option of Trustee, proceed to advertise
<br /> said real estate in the way and manner required by law in the State
<br /> of Nebraska, giving the time, terms and place of sale and sell and
<br /> dispose of the Premises at public auction in front of the
<br /> Courthouse of Hall County, Nebraska, to the highest bidder for cash
<br /> in hand and in bar of the equities of redemption, dower and
<br /> homestead, and all other rights and equities in the Premises, all
<br /> of which are hereby expressly waived; Trustee need not personally
<br /> attend or conduct such sale and may, at his option, cause the sale
<br /> to be conducted by an agent or attorney selected by him; Trustee or
<br /> Beneficiary may bid at such sale; Trustee is hereby authorized to
<br /> make available to the purchaser at such sale all necessary title
<br /> papers and place the purchaser in peaceable possession of the
<br /> Premises; and Trustee shall collect the proceeds of such sale,
<br /> applying such proceeds as provided in Section 3 . 4 hereof; and
<br /> Grantor agrees that possession of the Premises during the existence
<br /> of the Secured Indebtedness by Grantor, or any person claiming
<br /> under Grantor, shall be that of tenant under Trustee, and, in case
<br /> of a sale, as herein provided, Grantor or any person in possession
<br /> under Grantor shall then become and be tenants holding over, and
<br /> shall forthwith deliver possession to the purchaser at such sale,
<br /> or be summarily dispossessed in accordance with the provisions of
<br /> law applicable to tenants holding over; the power and agency hereby
<br /> granted are coupled with an interest and are irrevocable by death
<br /> or otherwise, and are in addition to any and all other remedies
<br /> which Beneficiary may have at law or in equity;
<br /> (c) Exercise any or all of the remedies available to a
<br /> secured party under the Nebraska Uniform Commercial Code,
<br /> including, but not limited to:
<br /> (1) Either personally or by means of a court
<br /> appointed receiver, take possession of all or any of the Collateral
<br /> and exclude therefrom Grantor and all others claiming under
<br /> Grantor, and thereafter hold, store, use, operate, manage, maintain
<br /> and control, make repairs, replacements, alterations, additions and
<br /> improvements to and exercise all rights and powers of Grantor in
<br /> respect to the Collateral or any part thereof. In the event
<br /> Beneficiary demands or attempts to take possession of the
<br /> Collateral in the exercise of any rights under any of the Loan
<br /> Instruments, Grantor promises and agrees to promptly turn over and
<br /> deliver complete possession thereof to Beneficiary;
<br /> (2) Without notice to or demand upon Grantor, make
<br /> such payments and do such acts as Beneficiary may deem necessary to
<br /> protect its security interest in the Collateral, including without
<br /> limitation, paying, purchasing, contesting or compromising any
<br /> encumbrance, charge or lien which is prior to or superior to the
<br /> security interest granted hereunder, and in exercising any such
<br /> powers or authority to pay all expenses incurred in connection
<br /> therewith;
<br /> (3) Require Grantor to assemble the Collateral or
<br /> any portion thereof, at a place designated by Beneficiary and
<br /> reasonably convenient to both parties, and promptly to deliver such
<br /> Collateral to Beneficiary, or an agent or representative designated
<br /> by it. Beneficiary, and its agents and representatives, shall have
<br /> the right to enter upon any or all of Grantor' s premises and
<br /> property to exercise Beneficiary's rights hereunder;
<br /> (4) Sell, lease or otherwise dispose of the
<br /> Collateral at public sale, with or without having the Collateral at
<br /> the place of sale, and upon such terms and in such manner as
<br /> Beneficiary may determine. Beneficiary may be a purchaser at any
<br /> such sale; and
<br /> -17-
<br />
|